Business travel, meetings and events produce significant economic contributions to destinations and host communities around the country in the form of travel spending, job creation and tax revenue.
Why it matters: In the past, despite making up 20% of total trip volume, business travelers accounted for 40-60% of lodging and air revenue — underscoring the essential role of this segment to the travel industry and our economy.
- In 2024, total business travel generated $312 billion in travel spending, marking an 85% recovery from 2019 levels.
Transient business travelers generated $186 billion in spending in 2024. While transient business recovered to 87% of 2019 levels in 2024, growth has slowed as companies maintain cost constraints.
Group travel, while initially declining more than transient business travel has made significant progress and is projected to grow faster than transient travel through 2025 as a result of the desire for face-to-face interactions. In 2024, group travel generated $126 billion in spending, recovering to 82% of 2019 levels.
- Barriers to business travel: While cost constraints remain the top barrier to business travel, travel hassles are having an increasingly negative impact while cost concerns fall.
The message is clear: Businesses must get back to business in-person.
Business travel and professional meetings and events are critical to the full recovery of not only travel, but also the U.S. economy. For current metrics on business travel and more, see The Latest Travel Monthly Data Report and our quarterly consumer insights including the quarterly Business Travel Tracker in collaboration with JD Power and Tourism Economics.
RECOMMENDATIONS
Nominate and confirm the Assistant Secretary of Commerce for Travel & Tourism
